Thursday 13 June, 2024
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Fincantieri wins maintenance contract for German submarines

Fincantieri has announced that it has won a contract from the German Navy to provide maintenance and modernization services for four Type 212A submarines. The agreement, worth about 300 million euros, will be carried out by Fincantieri’s subsidiary Fincantieri Marine Systems Deutschland (FMSD) in cooperation with Thyssenkrupp Marine Systems (TKMS), the original manufacturer of the submarines.

The Type 212A submarines are among the most advanced non-nuclear submarines in the world, featuring an air-independent propulsion system based on fuel cells that allows them to operate underwater for long periods without surfacing. They are also equipped with state-of-the-art sensors and weapons systems, including torpedoes and missiles. The German Navy operates six Type 212A submarines commissioned between 2005 and 2017.

The contract covers the maintenance and modernization of four submarines over eight years, starting in 2022. The work will be performed at the naval base of Eckernförde, where FMSD has its headquarters and facilities. FMSD will provide engineering and logistic support, as well as spare parts and materials. TKMS will provide technical assistance and supervision.

The contract is a significant achievement for Fincantieri, which has been expanding its presence and capabilities in the German market in recent years. In 2017, Fincantieri acquired a majority stake in FMSD, which specializes in the design, production and maintenance of naval systems and components. In 2019, Fincantieri acquired a minority stake in TKMS, strengthening its strategic partnership with the German company.

Fincantieri’s CEO Giuseppe Bono said: “We are very proud of this contract, which confirms Fincantieri’s leading role in the global naval sector and demonstrates our ability to provide high-quality services and solutions to our customers. We are also pleased to collaborate with TKMS, a long-standing partner and a leading player in the submarine market. This contract reinforces our position in Germany, a key market for our diversification and growth strategy.”

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News Desk
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